Private Equity知识点有哪些呢?是不是都已经掌握了呢?在CFA备考中需要知道每个科目中的知识点的,今天跟着小编一起看看这个知识点的学习!
1、classification
leveraged buyout:针对大而成熟的机构
venture capital:针对小的早期的机构
development capital:上市公司(expanding or restructuring)
distressed investing:财务困境的公司
2、LBO target companies:
Undervalued/depressed stock price
Willing management
Inefficient companies
Strong cash flow
Low leverage
Physical assets as security
3、Stages:
Angel investing
Seed stage:vc
Early stage:vc
Later stage
Mezzanine stage:pre-ipo
4、PE structure and fees:
GP & LP as hedge fund
Management fees are based on committed capital not invested capital
Incentive fees are earned until LPS received initial investment back
Clawback provision: 亏钱回吐incentive fees
5、Common exit strategies:
Trade sales to strategic buyer(战略投资者)
IPO
Recapitalization
Trade sales to another PE
Write off/liquidation
今天的知识就是这么多,如果你在备考中学习没有规划,也不知道怎么学习,这边有CFA老师帮你规划相关的知识课程 ,有需要可以在线咨询老师。